As organizations across the globe struggle to tackle the operational, strategic and financial impact of COVID-19, more agile and growth-centric organizations have seen this as an opportunity to leapfrog competitors within their specific industries and bring new products and experiences to their customers.
These organizations embrace enterprise resiliency and the need to “pivot” to grow their business when faced with adversities. And many of the organisations are in the process of executing transformation strategies during the crisis that offer enhanced digital experiences and dramatically change the way in which they interact with their customers as well as partners.
In fact, many organizations today are borderless entities that give customers, employees, partners, and suppliers anytime, anywhere access to corporate resources. To deliver digital experience to their constituents organization have started embracing digital technologies and investing also. This makes organisation more agile with their business operations.
In order to deliver digital experiences to these constituents, organizations have had to embrace and become digitally driven organizations themselves. In response, organizations are investing in technologies that enable more agile business operations and shifting to the cloud as core to their IT operations going forward.
Within these organizations, data has truly become the “new gold” that fuels the business. Access to that data has become equally important to provide key business insight, make faster decisions in response to market changes, and to stay in tune with customer needs and requirements.
In the new digital paradigm, corporate data and applications are spread throughout the organization and exist in traditional datacenters, public clouds, and private cloud.
IDC surveyed 400 enterprises to learn about their top cybersecurity concerns. Nearly 55% of the respondents indicated that data breaches were the biggest concern. The ramifications of a data breach are far-reaching. In addition to potential fines incurred by violating data protection mandates, and/or legal liability that the organization must bear.
Further to damage the company’s brand and reputation due to the loss of trust from customers can have a long-term impact. Companies are giving more importance on implementing the proper technologies to protect data and applications.
Updating out-of-date policies and procedures for effectively granting access privileges to corporate data wherever it resides.
The Challenge of Emerging Trends
Going forward, the challenge of building an effective data protection strategy will become more difficult as organizations must consider emergin trends that will have a significant impact on how best to manage data, applications, and identities.
Privacy regulations and the need to adhere to increased complexities they introduce
• Software supply chains and the shift required to ensure secure code is
embedded into in the software development lifecycle
• Accelerated digital transformation with the movement of enterprise applications
between cloud/multi-cloud and on-prem domains
• The proliferation of connected devices brought about by greater adoption of IoT
• Digital identities and ensuring appropriate governance no matter whether
human or a technical element
A key component of establishing cyber-resiliency is having a comprehensive strategy for data and application protection. This means having an understanding of the value of data to the business, the liability/risks associated with data, where data resides in the organization, appropriately classifying data, and understanding the dynamic and distributed nature of data.
Having this 360-degree view of data allows for effective decision making on implementing the appropriate technologies, policies and procedures needed for data protection.
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